Stock Trading Predictions & Technical Analysis: STP - Solar Energy Stocks Looking Strong

Monday, November 16, 2009

STP - Solar Energy Stocks Looking Strong

STP - STRONG BUY SIGNAL

STP along with other solar energy stocks made a strong move up today. STP has not only broken through its major down trend, but also crossed through both its 200 & 50 day MAs. Holding above its 50 day MA around $14.50 would confirm the STRONG BUY SIGNAL. STP will meet resistance at $16.00, $17.00 and $18.00. However, taking a position around current levels of $15.00 and seeing it hold up above its 50 day MA could possibly qualify STP as being in SAFE STRONG BUY ZONE. The reason is that STP would only need to fall back below its 50 day MA towards $14.00 to give us a SELL SIGNAL. Therefore you would only need to take on a small loss of the price reverses immediately from here. The rise in solar energy stocks is related to the fact that the price of OIL is continuing to increase therefore increasing the demand for alternative energies. Most solar energy stocks have given us BUY & STRONG BUY SIGNALS today. However, move cautiously as a sseing the Dow Jones continue higher is required to see these stocks move higher as well. Basically when the market is up, most stocks will be also, but it's just a matter of finding the stocks that will outperform others.

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TECHNICAL INDICATORS

BUY SIGNAL: Indicates the possibility of the start of a new up trend or the continuation of the current up trend. This signal may be often given in the early stages of a potential new up trend that was preceded by a down or sideways trend. Such signals do not always succeed and may fail at time.

BUY: Indicates that the current up trend is already in motion and a BUY SIGNAL was already given earlier. A BUY does not necessarily indicate that the stock will continue higher from here, but simply that the stock is trending up. The further into the trend you decide to take a long position, the more risk you have of seeing it reverse back down sooner rather than later.

STRONG BUY SIGNAL: Indicates a stronger, more significant and reliable signal than a BUY SIGNAL which usually has less chance of failing. Such signals do not always succeed and may fail at time.

STRONG BUY: Indicates that the current up trend is already in motion and that STRONG BUY SIGNAL was already given.

SELL SIGNAL: Indicates the possibility of the start of a new down trend or the continuation of the current down trend. This signal may be often given in the early stages of a potential new down trend that was preceded by an up or sideways trend. Such signals do not always succeed and may fail at time.

SELL: Indicates that the current down trend is already in motion and a SELL SIGNAL was already given earlier. A SELL does not necessarily indicate that the stock will continue lower from here, but simply that the stock is trending down. The further into the trend you decide to sell a position, the more risk you have of seeing it reverse back up.

STRONG SELL SIGNAL: Indicates a stronger, more significant and reliable signal than a SELL SIGNAL which usually has less chance of failing. Such signals do not always succeed and may fail at time.

STRONG SELL: Indicates that the current down trend is already in motion and that STRONG SELL SIGNAL was already given.

HOLD: Indicates that traders who already hold this stock, should hold on as long as the trend persists. This signal is usually given during an up trend for which it would be considered too risky to take a long position at this point.

STRONG HOLD: Indicates that the current trend has been in motion for a while and rarely deviated away from the trend. Although the stock may continue higher, there may not be enough potential up side to trigger a BUY SIGNAL. This type of indicator usually means that the stock has very strong support levels which may have been tested but not broken.

WAIT: Usually given during a sideways trend for which we are waiting for a move that would trigger a BUY SIGNAL or SELL SIGNAL. This could also indicate uncertainty and the risk that would be taken if you were to take a long position at the current level. Taking a long position after giving a WAIT indicator is considered a gamble.